Calix (NYSE:CALX) Price Target Cut to $35.00

Calix (NYSE:CALX) had its price target cut by analysts at Rosenblatt Securities from $45.00 to $35.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. Rosenblatt Securities’ target price suggests a potential upside of 23.89% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Roth Mkm restated a “buy” rating and set a $50.00 price target on shares of Calix in a research report on Monday. Finally, Needham & Company LLC restated a “buy” rating and set a $50.00 price target on shares of Calix in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.60.

Calix Price Performance

NYSE CALX opened at $28.25 on Tuesday. The company has a market capitalization of $1.85 billion, a PE ratio of 91.13 and a beta of 1.65. The company has a fifty day moving average of $33.04 and a 200 day moving average of $37.45. Calix has a 1 year low of $26.76 and a 1 year high of $53.90.

Calix (NYSE:CALX) last posted its earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. The company had revenue of $264.73 million during the quarter, compared to the consensus estimate of $264.41 million. Calix had a net margin of 2.19% and a return on equity of 6.65%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. Research analysts expect that Calix will post 0.45 earnings per share for the current year.

Hedge Funds Weigh In On Calix

A number of hedge funds have recently made changes to their positions in the stock. TFO Wealth Partners LLC raised its holdings in shares of Calix by 13,787.5% in the 4th quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock valued at $49,000 after purchasing an additional 1,103 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in Calix by 194.4% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,531 shares of the communications equipment provider’s stock worth $70,000 after purchasing an additional 1,011 shares during the last quarter. Assetmark Inc. grew its position in Calix by 31.9% during the 3rd quarter. Assetmark Inc. now owns 1,578 shares of the communications equipment provider’s stock worth $72,000 after purchasing an additional 382 shares during the last quarter. Quadrant Capital Group LLC grew its position in Calix by 18.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock worth $98,000 after purchasing an additional 348 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in Calix during the 3rd quarter worth $111,000. Hedge funds and other institutional investors own 98.14% of the company’s stock.

About Calix

Calix, Inc, together with its subsidiaries, engages in the provision of cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services.